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Despite a coup attempt and terrorist attacks, investors plowed money into Turkish stocks and bonds last week

Matter of fact, Turkey had the best-performing investments in the global economy last week according to Merrill Lynch, the New York Times reports. That’s despite the fact that within the span of a few weeks the country has seen a terrorist attack at its major airport, an attempted coup, and its debt being downgraded. The Times says the rush to Turkish investments including stocks and bonds is due to zero to negative interest rates in other more developed countries. As Gavin Serkin, an emerging-markets expert at Frontier Funds told the Times:

“In places like Europe, the U.K. and the U.S., you have lots of risks but no reward. In the developing world, you have risks, but at least you are getting paid for it.”

MG